CoreFirst Bank & Trust Buys New Position in Owens Corning (NYSE:OC)

CoreFirst Bank & Trust purchased a new position in shares of Owens Corning (NYSE:OC) in the fourth quarter, HoldingsChannel reports. The fund purchased 880 shares of the construction company’s stock, valued at approximately $150,000.

Several other hedge funds also recently made changes to their positions in the business. State Street Corp boosted its holdings in Owens Corning by 4.7% during the third quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock worth $738,104,000 after purchasing an additional 187,001 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Owens Corning by 12.5% during the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after buying an additional 238,694 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Owens Corning by 31.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock valued at $145,455,000 after acquiring an additional 197,667 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after acquiring an additional 424,786 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Owens Corning by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,275 shares of the construction company’s stock worth $128,379,000 after acquiring an additional 24,522 shares in the last quarter. 88.40% of the stock is owned by institutional investors.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.89% of the company’s stock.

Owens Corning Price Performance

Shares of NYSE OC opened at $151.21 on Tuesday. The business’s 50 day moving average is $167.19 and its 200-day moving average is $176.71. The firm has a market cap of $12.93 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. Owens Corning has a 1-year low of $137.50 and a 1-year high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last posted its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the firm earned $3.21 earnings per share. The company’s revenue was up 23.3% on a year-over-year basis. Equities research analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.83%. Owens Corning’s payout ratio is presently 37.70%.

Analyst Ratings Changes

Several research firms have weighed in on OC. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays lowered their target price on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. UBS Group cut their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price objective on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company cut their target price on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $204.18.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.